I have found the pullback in Apple (AAPL) utterly fascinating, I mean, how many companies can actually say that as the stock has pulled back roughly 26% from its recent all time highs made in 2015, that it has lost well over $150 billion in market cap?
Nonetheless, AAPL is sitting on a rising trendline on the weekly chart that goes back four years. And this is actually only the third time it has been retested. But notice just how perfect that rising trend-line has been. My initial though is that it will find some support off of that trend-line, but in the scenario that it doesn’t? My gosh, the decline could be massive.
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Refusing to take a loss when the trade has turned, and the reason for getting into the trade in the first place is no longer valid, is one of the biggest problems traders face. In this video, Ryan Mallory discusses the pitfalls that comes with refusing to take the loss and instead opting to become a bagholder on one's trades.
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